Goderich Elevators Limited

January 31, 2006 08:45 ET

Goderich Elevators Limited Announces Acquisition of the Assets of G.S. Dunn & Co. Limited

TORONTO, ONTARIO--(CCNMatthews - Jan. 31, 2006) - Goderich Elevators Limited ("Goderich") today announced that its Board of Directors has approved the purchase of certain assets (the "Purchased Assets") of G.S. Dunn & Co. Limited ("GS Dunn"), a dry mustard miller and global supplier of dry mustard products located in Hamilton, Ontario, in the context of GS Dunn's ongoing proceedings under the Companies' Creditors Arrangement Act (R.S. 1985, c. C-36) (the "Acquisition")

Subsequent to the conclusion of definitive agreements of purchase and sale, the Acquisition will be subject to obtaining an order from the Ontario Superior Court of Justice (Commercial List) finally and unconditionally approving the sale of the Purchased Assets to Goderich and vesting all right, title and interest of GS Dunn in the Purchased Assets to Goderich.

"We are excited about the prospect of acquiring the GS Dunn assets and the strategic value that it represents to our company and our shareholders," said Mr. Don Henry, President of Goderich Elevators Limited.

About Goderich Elevators Limited

Goderich Elevators Limited, a reporting issuer in Ontario, is a company engaged in the storage, conditioning, processing and handling of grain through its facilities at Goderich and Port Colborne, Ontario.

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